"Following a successful discussion with the FDA and receipt of written feedback from our meeting, we now have a clear path forward toward the submission of a new drug application for VEN 307 as a treatment for anal fissures," said Russell H. Ellison, M.D., M.Sc., Chairman and Chief Executive Officer of Ventrus Biosciences, Inc. "This includes completion of a second Phase 3 trial, which began enrolling patients in November, is expected to be complete by the fourth quarter of 2013 and should serve as confirmation of the positive results we saw in our first Phase 3 study. Anal fissures represent a significant market opportunity, one with no treatment standard and a concentrated prescriber base among gastroenterologist and colorectal surgeons."